Technical Analysis – 30 Jan 2009

2009 January 29

tags: nifty, sensex, technical analysis

by phani

The market took a breather yesterday and the Indices corrected from close to the first resistance levels of 2904 (Nifty) & 9333 (Sensex). After a significant technical bounce, the first real test for the markets is now. There is a host of crucial resistances/hurdles that the Indices will need to cross for this rally to sustain

The market took a breather yesterday and the Indices corrected from close to the first resistance levels of 2904 (Nifty) & 9333 (Sensex). After a significant technical bounce, the first real test for the markets is now. There is a host of crucial resistances/hurdles that the Indices will need to cross for this rally to sustain.

The upper trading targets are placed at 9333-9550-9767 (SENSEX) & 2904-2961 (NIFTY).

The lower supports are placed at 9026 – 8875 (SENSEX) & 2792- 2742 (NIFTY).

Use any rally to reduce longs and create fresh short positions.

Comments are closed for this entry.

This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 2.5 India License

Copyright 2010 Stock Market Today.in

Vigilance Theme by Jestro

DISCLAIMER : Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only.